The word luxury' can be defined as state of life in which has uses things that please the senses

or pleasing to have but not essential. A good attains the label as a luxury when it has a particular design, quality, performance or durability that is remarkably superior to the comparable substitutes (Snapshot of U.S Luxury Good Market, 2007). Dubois, Laurent and Czellar (2001) and Survanasuddhi (2007) stated a definition of the nature and characteristics of the concept of luxury. The six facets are excellent quality, very high price, scarcity and uniqueness, aesthetics and polysensuality, ancestral heritage and personal history and superfluousness. Luxury goods are rising in popularity especially as consumers' buying behavior is becoming more symbolized. Consumers feel that by owning luxury products can express their personality and set them apart. Thus, luxury goods have been defined as goods for which the mere use or display of a particular branded product brings prestige on the owner, apart from any functional utility (Nia and Zaikowsky,2000) The term prestige' was defined as it consists of consumers' motivations for chasing technical superiority, uniqueness, signaling wealth and status well as aesthetics appeal (Vigneron and Johnson, 1999). Prestige' and luxury' are used synonymously in the VIgneron and Johnson's research. Vigneron and Johnson (1999) categorized three types of prestige brand as upmarket brands, premium brands and luxury brands, respectively in an increasing order of prestige. Hence, it was expected that people would have different perceptions of the level of prestige for the same brands, and that the overall prestige level of a brand would consider the prestige perceptions from different people. Source: Vigneron and Johnson (1999)1

Definition 1. Guy Salter

* Private Investor, Deputy Chairman of Walpole, the British Luxury goods organization Because luxury matters in a way that didn't matter before. Increasingly, luxury is big business: the luxury segment is growing and according to most projections it will continue to grow for the next ten to fifteen years.

http://www.ukessays.com/essays/retail/define-luxury-goods.php

2. Belinda Earl,
* Jaeger Group's chief executive * Jaeger is a luxury British brand renowned for designing stylish, innovative and superb quality womenswear, menswear and accessories. None of us are in the business selling necessities; luxury is the business of creating and satisfying desires.

3. Richard Purdey of gun makers James Purdey and Sons

* Famous British gun maker of London, and the name is synonymous with the very finest sporting shotguns and rifles. Purdeys hold or have held numerous warrants of appointment as gun and rifle makers to the British and other European royal families. A real luxury brands has got to have total integrity. It has to be the buyer that says this is luxury'.

4. Theo Fennell
* Theo Fennell is the jewellery maker by using his name for his company Theo Fennel' in London Luxury is something that everyone wants and nobody needs.

5. Joseph Wan of Harvey Nichols

* CEO of retailer Harvey Nichols * Harvey Nichols is an international luxury lifestyle store, renowned both in the UK and internationally for the breadth and depth of its exclusive fashion merchandise. It offers many of the world's most prestigious brands in womenswear, menswear, accessories, beauty, food and home. Luxury is about history. A luxury brand is a lifestyle concept and to be sustainable it has to have history, including a history of quality merchandise and of real luxury customers..

6. Raphael le Masne de Chermont, of Shanghai Tang

* Executive Chair of Shanghai Tang * Shanghai Tang is the first luxury brand emerging design from Chiana It is not in the price, it is in the pleasure you give to the customer. It is to do with creativity, a harmonious aesthetic with attention to details.

7.Christian Hafner
* Head of Branding at Swarovski Luxury is about history, authenticity, depth and being a partner. Buying a luxury product is like a love affair.2

The term luxury is routinely used in our everyday life to refer to products, services or a certain lifestyle, however, often without a clear understanding of the luxury concept as it takes on many different forms for different people and is dependent on the mood and experience of the consumer: Luxury is particularly slippery to define. A strong element of human involvement, very limited supply and the recognition of value by others are key component (Cornell 2002, p. 47). Kapferer (1997, p.253; as cited in Vigneron and Johnson 2004) summarised luxury as follows.The word luxury defines beauty; it is art applied to functional items. Like light, luxury is enlightening. [. . .] They offer more than mere objects: they provide reference of good taste. That is why luxury management should not only depend on customer expectations: luxury brands are animated by their internal programme, their global vision, the specific taste which they promote as well as the pursuit of their own standards ... Luxury items provide extra pleasure and flatter all senses at once ... Luxury is the appendage of the ruling classes Whereas necessities are utilitarian objects that relieve an unpleasant state of discomfort, luxuries are characterized as objects of desire that provide pleasure (Berry 1994), and as non-essential items or services that contribute to luxurious living; an indulgence or convenience beyond the indispensable minimum(Websters Third New International Dictionary 2002). Bourne (1957) defined luxury goods as exclusive products not commonly owned or used, which are more conspicuous than necessity products. Luxury goods are primarily branded goods purchased for psychological needs such as increase of esteem; functional needs seem to only play a secondary role in purchase decisions

http://www.ukessays.com/essays/retail/define-luxury-goods.php